IslamicFinance.de

The Islamic Bank of Thailand plans to issue THB5 billion ($169.15 million) in long-awaited Islamic bonds by the first half of next year if the interest rate environment remains conducive.
In 2011, income contribution from the retail business is expected to rise to 40%-45% of operations and reach 60% in 2012.

The Islamic Bank of Thailand plans to float 55 billion baht worth of Islamic bonds in the local and overseas markets this year, says bank president Dheerasak Suwannayos. He said the bank hoped to raise 5 billion baht from a local Islamic bond issue in the second quarter, the first issued in the Thai market.

The Islamic Bank of Thailand (IBT) plans to rise between USD 70 mn to USD 200 mn via Sukuk in Malaysia and Middle East countries by this year. Malaysia's second largest banking group CIMB, and its newly acquired BankThai, had approached the IBT to launch the Sukuk bond in Malaysia.